The ongoing talks with EU and IMF officials are focused on the size of Greece's 2014 budget gap. While Stournaras has said the shortfall will be around 500 million euros ($675 million) and can be raised with relative ease, he conceded that the creditors expect the gap to be five times as big a much more challenging prospect.
At stake in the new talks is the country's next installment of rescue loans of 1 billion euros ($1.35 billion).
The EU Commissioner for Economic and Monetary Affairs, Olli Rehn, conceded Tuesday that past austerity talks with Greece have not been "precisely easy."
"But I don't see that they are more difficult than normally," he said in Brussels. "I'm sure that we will be able to find a satisfactory solution" on plugging the fiscal gap.
Greece's conservative-led government insists it will not agree to new across the board spending cuts. The 17-month-old coalition already faces a possible revolt by its own lawmakers over a proposed new property tax, and argues that it cannot inflict further pain on a population that has already suffered an average 40 percent loss in disposable income since 2009 and seen unemployment spike to a staggering 28 percent.
The country has suffered five years of recession accentuated by austerity measures meant to reduce deep budget deficits. The government insists that the suffering is paying off, and predicts a primary surplus a surplus before debt interest payments this year and a return to growth in 2014.
Deputy Finance Minister Christos Staikouras said the perennially underperforming tax collection arm of the government has exceeded targets so far this year, and a primary surplus can be achieved.
"With the truly painful contribution from households and businesses, the country is close to attaining its fiscal targets," he said Tuesday.